The Motor Trade industry is among the busiest industries in the UK. As motor trading always runs, motor trade insurance is essential.
The insurance protects motor traders whether their business is done in the home or from business premises. Whatever area you work in, be it luxury sports cars or classic cars, there will be a policy suitable for you.
Like other policy’s, payments can be made monthly or you can pay the full amount off at the same time. Some insurance providers offer discounts for new customers.
Motor trade insurance is vital and it is recommended that an individual meets certain criteria. For instance, the potential buyer of the automobile must have held a full British drivers license for at least a year and there is a maximum of 3 drivers that can be filed to the car.
If a person has some convictions on their driver’s license they become ineligible for motor trade insurance. Pending or ongoing convictions will have the exact same effect. But, convictions that occurred five or more years ago are disregarded.
Policy owners cannot employ people who were disqualified from driving over the past five years. Should they have been disqualified for a time outside the five-year bracket, then there’s absolutely no issue for policy owners to employ them.
Individuals who drive as part of the job are permitted to have their insurance suspended if a conviction occurs. If they receive a disqualification from driving for a period of a year or even more whilst working for the company, the policy is again suspended.
Even though it can be quite technical, investing in motor trade insurance is highly recommended. As with companies that offer car insurance, some insurers offer a discount to new clients.
It’s wise not to just select the cheapest coverage found. Most businesses are driven by profit and whilst it is natural to try and reduce costs for expenses such as motor insurance, the chosen policy may not cover your company for everything it needs.